bonvenon! tervetuloa! καλωσόρισμα! bienvenida! benvenuti! Добро пожаловать! WELCOME! vítejte! välkommen! bem-vindo! bun venit! welkom! dobrodošli! bienvenu! wilkommen! EUROPE: The #1 Market in the World RIVERSIDE, SEPT 12 2018 1
TOPICS • WHAT IS EUROPE • WHY EUROPE • WHAT IS NEEDED • HOW TO APPROACH EUROPE • HOW EUROPE CAN BE BENEFICIAL FOR YOU • Q&A 2
WH WHAT IS EUROPE ? 3
EUROPE: THE #1 MARKET IN THE WORLD • GDP 2017 (nominal): $20.272 trillion • GDP 2017 ( PPP ): $26.972 trillion • EU (28) GDP 2017 (nominal): $ 18.38 trillion • Total Population : 740 million ( EU : 500 m) • Total Countries : 50 ( 28 are EU members) • Over 64% of total world trade is within the EU block http://statisticstimes.com/economy/european-countries-by-gdp.php, Eurostat.eu 4
FOCUS ON EUROPE – FACTS • Surface: 3,825,730 SM (USA: 3,797,000; China: 3,705,000) • Languages : > 200 ( 23 are used by 2/3 of the population) • People : 33 (which form the majority in at least 1 Sovereign State) • Europe has only 6.9% of the world’s population • EU represents 15.6 % of the global exports (USA 11.8%) • EU represents 14.8% of the global imports (USA 17.6%) • Europe is the richest continent ( 1/3 of global richness ) Eurostat.eu 5
EUROPE: WHAT IS IT? • European Union (EU) - 28 nations with: • Individual characteristics • Shared rules • European Free Trade Association (EFTA) – 4 nations • Free trade area association: Iceland, Liechtenstein, Norway, Switzerland • European Economic Area (EEA) – 31 nations (EU+EFTA-CH): • Free flow of people, goods , services and capital • Europe Total countries: 50 6
European Union (EU): 28 Nations • Austria • Germany • Poland • Belgium • Greece • Portugal • Bulgaria • Hungary • Romania • Croatia • Ireland • Slovakia • Cyprus • Italy • Slovenia • Czech Rep. • Latvia • Spain • Denmark • Lithuania • Sweden • Estonia • Luxemburg • United Kingdom • Finland • Malta • France • Netherlands 7
EURO CURRENCY MEMBER STATES (19) • Austria • Ireland • Slovakia • Belgium • Italy • Slovenia • Cyprus • Latvia • Spain • Estonia • Lithuania • Finland • Luxemburg • France • Malta • Germany • Netherlands • Greece • Portugal 8
BRIEF HISTORY • 1957 Rome Treaty: The European Economic Community is founded (Belgium, France, Italy, Luxemburg, The Netherlands, West Germany) • 1967 European Community • 1983 European Union, which established: • a Parliament • a Court • a Central Bank • a Currency (Euro: Jan 1, 1999) 9
EUROPEAN UNION • 28 States - European Union • 26 States - Schengen (no-border area) • Free movement of people , goods and services . This means, if a US citizen enters in a Schengen country, she can freely travel to any of the other 25 Schengen country • No Schengen: Bulgaria, Croatia, Cyprus, Ireland, Romania, UK. • 19 States - Euro currency 10
EUROPE: WHO RULES ? • European Council Impetus, Direction • Council of the European Union Legislative • European Parliament Legislative • European Commission Executive • Court of Justice of the European Union Judiciary • European Central Bank Central Bank • European Court of Auditors Financial Auditor 11
EUROPEAN COUNCIL Composed by: • Heads of states • President of European Council • President of the European Commission Tasks: • Gives the political impetus for the development of the Union • Sets general priorities and objectives • Does not legislate 12
COUNCIL OF THE EUROPEAN UNION Composed by: • 28 national ministers Tasks: • Legislates, together with the Parliament • Budgets, together with the Parliament • Sets the guidelines for the Common Foreign Security Policy (CFSP) • Coordinates economic and social policies • Concludes international agreements 13
EUROPEAN PARLIAMENT Composed by: • 751 elected members (representing about 500 mln people) Tasks: • Legislates, together with the Council of the European Union • Budgets, together with the Council of the European Union • Exerts democratic control over the institutions, including the European Commission and approves the Commission members 14
EUROPEAN COMMISSION Composed by: • 28 members, each appointed by one state Tasks: • Executive power • Proposes new legislation to the Parliament and Council • Guardian of the treaties (ensures compliance with the European law) • Implements policies, Administers the budget • Negotiates international agreements 15
COURT OF JUSTICE Composed by: • The main chamber: • Court of Justice • The General Court • The Civil Service Tribunal Tasks: • Ensures uniform application and interpretation of European Law • Decides legal disputes between: • Member states • The institutions • Businesses • Individuals 16
EUROPEAN CENTRAL BANK Composed by: • A board of national banker governors • A President Tasks: • Determines the monetary policy of the Eurozone • Ensures price stability in the Eurozone by controlling the Money Supply 17
EUROPEAN COURT OF AUDITORS Composed by: • A member from each state, appointed by the Council Tasks: • Checks the proper implementation of the budget • Has no judicial power 18
19 Source: Wikipedia
EUROPE: IN BRIEF • Many nations, languages, rules, systems, opportunities … • One huge, stable, single market Top-down power: Europe rules over single states • Directives (need to be approved by each state) • Regulations (do not need each single state’s approval) 20
FOCUS ON EUROPE – FACTS Country Population Yearly Net Density GDP $ bln GDP $ pro Change change P / km2 2017 capita 2017 Russia 143,964,709 1,527.469 -0.02 % -25,045 9 10,608 Germany 82,293,457 0.22 % 179,233 236 3,684.816 44,549 U.K. 66,573,504 0.59 % 391,919 275 2,624.529 39,734 France 65,233,271 0.39 % 253,723 119 2,583.560 39,869 Italy 59,290,969 -0.12 % -68,931 202 1,937.894 31,984 Spain 46,397,452 0.09 % 43,131 93 1,313.951 28,358 Ukraine 44,009,214 -0.48 % -213,733 76 109.321 2,582 Poland 38,104,832 -0.17 % -65,880 124 524.886 13,822 Romania 19,580,634 -0.50 % -98,672 85 211.315 10,757 Netherlands 17,084,459 0.28 % 48,521 507 825.745 48,345 Belgium 11,498,519 0.61 % 69,183 380 494.733 43,582 21
FOCUS ON EUROPE – FACTS Country GDP $ pro Population capita 2017 Luxemburg 105,803 590,321 Switzerland 80,590 8,544,034 Norway 74,940 5,353,363 Ireland 70,638 4,803,748 Iceland 70,332 337,780 Denmark 56,444 5,754,356 Sweden 53,217 9,982,709 Netherlands 48,345 17,084,459 Austria 47,289 8,751,820 Finland 46,016 5,542,517 Germany 44,549 82,293,457 22
WH WHY EUROPE? 23
US – EUROPE A long hi history of fr friendshi ndship a p and c nd collabo boration European American: • German (13%); • Irish (10%); • English (7.4%); • Italian (5.2%); • Polish (3%) Tot. > 1/3 of US population (2016 American Community Survey) 24
EU – USA facts The European Union and the United States have the largest bilateral trade and investment relationship and enjoy the most integrated economic relationship in the world : • Total US investment in the EU is three times hig her than in all of Asia . • EU investment in the US is around eight times the amount of EU investment in India and China together. • The EU and the US economies account together for about half the entire world’s GDP . www.ec.europa.eu 25
WHY EUROPE US – EU TRADE FACTS 2016 (ustr.gov) US – EU goods/services $1.1 tr. (Exports: $501bn, Imports: $592bn) Goods (#1 partner) Exports: $270bn, Imports $416bn Services Exports: $231bn, Imports $147bn US exports to EU 2.6 million jobs (2015) United Kingdom: 55.3 • Germany: 49.4 • Top 5 markets ($bn) Netherlands: 39.7 • • Belgium: 32.1 • France: 31.1 Aircraft: 38.5 • Machinery: 29.4 • Top US export categories Pharmaceutical: 26.4 • ($bn) Optic & Medical Instruments: 25.6 • Electrical Machinery: 20.8 • 26
U.S. Trade in Advanced Technology Products by Technology Group and Selected EU Countries and Areas ($mil) census.gov Countries Year to date 2018 Year to date 2017 Balance Exports Imports Balance Exports Imports U.K. + 4,774 9,440 4,666 + 4,014 7,686 3,672 France + 1,901 8,471 6,570 + 1,090 7,417 6,327 Italy + 70 2,828 2,758 - 97 2,111 2,208 Germany - 2,194 9,198 11,392 - 1,048 7,356 8,405 Ireland - 11,185 2,906 14,091 - 10,023 2,625 12,648 Other + 5,821 15,815 9,994 + 6,309 14,526 8,217 U.S .S. . Trade e in Se Services by Selected Countries & Areas ( $mil) census.gov 2015 2016 2017 European Union + 54,857 + 56,079 + 51,438 27
WH WHAT DO US SMEs NEED TO SE SELL LL TO EUROPE? 28
EUROPE – WHAT IS NEEDED (generic) • Compliance – CE mark, REACH, etc. • Legal / Administration (GDPR) • Strategy • Distribution • Communication • Bridge cultural differences 29
CE MARK • CE Mark vs. China Export • Where is CE mark required ? • In the EEA countries • In the EFTA countries (except for Switzerland) • Turkey, even if not belonging to the above associations, has fully implemented many of the CE requirements 30
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